CREDAI approaches collector for developing fringe areas
The Confederation of Real Estate Developers‘ Associations of India, Pune has planned to develop fringe areas, which lie within 10km radius of the municipal limits. The authority approached the district collectorate, with their demands duly mentioned in the letter handed-over.
The association, in its letter, has mentioned that many builders and developers, whose projects had been sanctioned before 2008, are interested to hand over the space in their layout, to the district collector, for development.
Earlier, the government had sanctioned special regulations for areas that lie within a peripheral distance of 10 km. According to this rule, additional Floor Space Index would be provided to the builders, in lieu of the land handed over by them. The rule also allows the promoters to develop the space on their own, along with usage of the FSI of the developed amenity.
The decision would expedite and encourage acquisition of internal land and spaces, which would eventually help the public domain to a large extent. Recommendations to avoid cut-off dates for the development and usage of plots have been made by the builders.
The said regulations were sanctioned in 2009, a year after which it was published. The regulations have provisions under which additional FSI can be granted to the developer or the owner, upon handing over of internal roads and amenity spaces. For layouts and areas that were sanctioned before 2008, additional FSI would be provided to the owner upon handing over the internal roads and amenity space, if no development has been carried out, as per the old sanction. The policy would help the government in possessing area under internal roads and amenity space, and developing them in a fast pace.
